Amyris, Inc. (AMRS) Downgraded to “Hold” at Zacks Investment Research
Amyris, Inc. (NASDAQ:AMRS) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “Amyris INC is an integrated renewable products company applying industrial synthetic biology to genetically modify microorganisms to serve as living factories. Amyris designs these microorganisms to produce defined molecules for use as renewable chemicals and transportation fuels. The Company is engaged in the development of farmesene- a molecule, which serves as the base chemical building block for a wide range of renewable products to replace existing products that are derived from petroleum, plant or animal sources and that may be of lower quality or higher price. Amyris INC is headquartered in Emeryville, CA. “
Other research analysts also recently issued research reports about the stock. Cowen and Company set a $4.00 target price on shares of Amyris and gave the company a “hold” rating in a research report on Thursday, August 17th. HC Wainwright reissued a “buy” rating and set a $15.00 target price on shares of Amyris in a research report on Tuesday, September 26th. Finally, ValuEngine raised shares of Amyris from a “strong sell” rating to a “sell” rating in a research report on Friday, September 1st. One research analyst has rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $20.69.
Amyris (NASDAQ AMRS) traded down 3.67% during midday trading on Monday, reaching $2.89. 217,263 shares of the company traded hands. Amyris has a one year low of $1.86 and a one year high of $17.10. The stock’s market capitalization is $108.68 million. The company has a 50 day moving average price of $3.22 and a 200-day moving average price of $4.15.
Amyris (NASDAQ:AMRS) last posted its earnings results on Thursday, August 10th. The biotechnology company reported ($1.41) EPS for the quarter, missing analysts’ consensus estimates of ($1.06) by ($0.35). The business had revenue of $25.68 million for the quarter, compared to analyst estimates of $23.68 million. The business’s revenue for the quarter was up 167.5% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) earnings per share. Analysts forecast that Amyris will post ($3.42) EPS for the current fiscal year.
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A hedge fund recently raised its stake in Amyris stock. Bank of New York Mellon Corp increased its stake in Amyris, Inc. (NASDAQ:AMRS) by 16.3% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 32,768 shares of the biotechnology company’s stock after purchasing an additional 4,603 shares during the period. Bank of New York Mellon Corp owned 0.17% of Amyris worth $104,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors own 19.79% of the company’s stock.
Amyris, Inc is an integrated industrial biotechnology company. The Company is engaged in research and development and sales of fuels and farnesene-derived products. It is applying its industrial synthetic biology platform to engineer, manufacture and sell products into a range of consumer and industrial markets, including cosmetics, flavors and fragrances (F&F), solvents and cleaners, polymers, lubricants, healthcare products and fuels.
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